This invention relates to a system including a pocket-sized, portable, personal terminal unit which may be used for handling a wide variety of financial, shopping, and other transactions.
In recent years there has been a trend to automate financial, shopping, and bill-paying transactions and to eliminate bank checks by providing automatic cash dispensing terminals and by providing "debit" credit cards, for example.
One of the problems associated with the use of financial or transaction terminals is that they tend to "frighten" or overwhelm users who are not too sophisticated in the use of such terminals. Another problem is that users are required to operate several different terminals or are required to carry several credit or debit cards to carry on their transactions. For example, the following is a general list of different ways of handling financial transactions:
1. Automated Teller Machine (ATM) cash deposits and/or withdrawals;
2. Personal checks;
3. Bill paying by telephone;
4. Point of Sale (POS) debit payments; and
5. Credit transactions.